Hyperloop Technologies Inc. Announces Rob Lloyd as CEO

16.9.2015 12:00 | Business Wire

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Hyperloop Technologies Inc. announced today that Rob Lloyd will join the
company as CEO. Lloyd is a 20-year networking technology veteran who was
most recently President of Cisco Systems. In addition to assuming the
top post as CEO, Lloyd is an investor in the company and will join the
board of directors. Hyperloop is a transportation system in which a
full-length tube is built between destinations, with a controlled
environment inside the tube allowing people or cargo to travel at
extremely fast speeds.

Also joining Hyperloop Technologies Inc. as an advisor and board
observer is Emily White, who was most recently COO at Snapchat after
spending many years at Facebook and Google. Lloyd and White join current
members of the distinguished board of directors -- co-chairs Shervin
Pishevar and David O. Sacks, Peter Diamandis, Joe Lonsdale and Jim
Messina.

"I'm hugely impressed by the team and the vision of this company and the
brilliant team committed to making the hyperloop a reality," said Rob
Lloyd, CEO, Hyperloop Technologies, Inc. "This is an incredible
opportunity to dramatically impact the trillion-dollar transportation
industry – Hyperloop is the fifth mode of transport, and will be the
most efficient transportation network ever seen. It's an immense global
market, and the opportunity of a lifetime to lead Hyperloop Technologies
Inc. into the future.”

Hyperloop Technologies Inc. employs a growing team of over 50 full-time
employees occupying over 55,000 sq.ft. at the company’s three-acre,
three-building campus in the downtown Los Angeles Arts District.

This is a multi-decade effort and movement. To that end, Lloyd will be
tasked with creating and leveraging global relationships and
partnerships as Hyperloop Technologies Inc. prepares to have its Test
Track operational in late 2016 / early 2017, and develop the systems and
a family of products that will be ready, proven and commercially viable
by 2020. The company plans to announce significant technology
developments and partnerships over the course of the next year.

"When I founded this company with Brogan BamBrogan in 2014, we knew that
when the time was right we would need a world-class operator to lead
it," said Shervin Pishevar, co-founder, Hyperloop Technologies Inc. "Rob
Lloyd is perfectly suited to lead this company given his incredible 20+
year track record of innovating and disrupting. Rob helped build the
network that moved bits in the digital era, and now he will help change
the world again by building the network that will move people and things
faster than ever before possible - we are extremely lucky to have him.”

The technical team, led by CTO Brogan BamBrogan, is pioneering unique
innovations including advancements in tube design and fabrication,
levitation systems, pod designs and thermodynamics, systems engineering
and propulsion.

"The amount of innovation happening within the walls of our office every
day is astounding," said Brogan BamBrogan, CTO and co-founder, Hyperloop
Technologies Inc. "It’s rare as an engineer to have the chance to solve
really big problems – and while building the hyperloop is a massive
undertaking, it is now an engineering certainty. We have over 50 of the
best and brightest engineers working fulltime, and our team of builders
is growing daily. 2015 was the year hyperloop went from concept to
certainty, and Rob paving the way with the necessary partnerships,
capital, and resources ensures that Hyperloop becomes reality. We look
forward to 2016 being our Kitty Hawk moment.”

Hyperloop Technologies Inc. is financially backed by leading investors Formation
8, Sherpa
Ventures, Zhen Capital, Caspian VC, David O. Sacks and more. The
Series A financing of $10m was raised over 2-3 months in 2014, and the
company is currently raising an $80m Series B round.

About Hyperloop Technologies, Inc.:
Hyperloop Technologies,
Inc., is the world’s next breakthrough in transportation, engineering
unique transportation solutions worldwide for both cargo and passengers.
The company was founded in 2014 and is headquartered in downtown Los
Angeles, California. For more information, please visit http://hyperlooptech.com.